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Lao People’s Democratic Republic - Gross domestic product based on purchasing-power-parity in current prices

53.70 (billion international dollars) in 2018

In 2018, GDP based on PPP for Lao People’s Democratic Republic was 53.7 billion international dollars. Over the last 20 years, GDP based on PPP of Lao People’s Democratic Republic grew substantially from 9.87 to 53.7 billion international dollars rising at an increasing annual rate that reached a maximum of 12.25 % in 2006 and then decreased to 8.90 % in 2018.

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What is GDP based on PPP?

GDP (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States. A purchasing power parity (PPP) between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or "numeraire" currency.

What is Lao People’s Democratic Republic GDP based on PPP?

Date Value Change, %
2018 53.70 8.90 %
2017 49.31 8.86 %
2016 45.30 8.19 %
2015 41.87 8.42 %
2014 38.62 9.65 %
2013 35.22 9.92 %
2012 32.04 9.87 %
2011 29.16 10.24 %
2010 26.45 9.28 %
2009 24.21 8.19 %
2008 22.37 9.92 %
2007 20.35